Next year, a random sample of the 300,000 residents of Stockton, a port city in California’s Central Valley, will get $500 per month ($6,000 a year) with no strings attached.
It’s the latest test of a policy known as basic income , funded not out of city revenues but by individual and foundation philanthropy. The first $1 million in funding comes from the Economic Security Project, a pro-basic income advocacy and research group co-chaired and bankrolled by Facebook co-founder and former New Republic publisher Chris Hughes. Stockton Mayor Michael Tubbs hopes to launch the basic income project as early as […]
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